Cash Payments – U/S 40a(3)
Disallowance under section 40A(3) Cash deposited in bank account of supplier Cash deposited directly in bank account of supplier by its dealer/customers would be allowable and not hit by section 40(A). For this purpose the decision in Sri Ranukeswara Rice Mills v ITO (2005) 278 ITR 77 (Bang-Trib) may. It was held that the payment […]
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